Steel fell to 3,188 CNY/T on July 31, 2025, down 1.24% from the previous day. Over the past month, Steel's price has risen 5.21%, and is up 6.27% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Steel - values, historical data, forecasts and news - updated on August of 2025.

The India Steel Market report segments the industry into Basic Form (Crude Steel), Final Form (Finished Steel), Technology (Blast Furnace-basic Oxygen Furnace (BF-BOF), Electric Arc Furnace (EAF), Other Technologies), End User Industry (Automotive and Transportation, Building and Construction, Tools and Machinery, Energy, Consumer Goods, and more).

Explore the growth potential of Market Research Intellect's Present Steel Market Report, valued at USD 1,030 billion in 2024, with a forecasted market size of USD 1,450 billion by 2033, growing at a CAGR of 4.3% from 2026 to 2033.

The global steel market, valued at approximately $908.68 billion in 2025, is projected to experience steady growth, exhibiting a compound annual growth rate (CAGR) of 2.8% from 2025 to 2033. This growth is fueled by several key drivers. Increased infrastructure development, particularly in emerging economies, necessitates substantial steel consumption for construction projects like bridges, buildings, and transportation networks. The burgeoning automotive industry, with its continuous demand for high-strength steel in vehicle manufacturing, further bolsters market expansion. Furthermore, the renewable energy sector's reliance on steel for wind turbine construction and solar panel infrastructure contributes significantly to market demand. However, fluctuations in raw material prices, particularly iron ore and coking coal, represent a significant challenge. Environmental regulations aimed at reducing carbon emissions from steel production also present restraints, potentially impacting production costs and profitability. While the market faces these challenges, technological advancements in steel production, such as the adoption of more efficient and environmentally friendly processes, are mitigating some of these concerns. The market is segmented by various steel types (e.g., carbon steel, stainless steel, alloy steel), application areas (e.g., construction, automotive, energy), and geographical regions. Major players like ArcelorMittal, Nippon Steel, and Baowu Steel Group dominate the market landscape, engaging in intense competition through technological innovation, cost optimization, and strategic acquisitions. The forecast period anticipates a steady rise in market size, driven by consistent global infrastructure investment and continued industrialization in developing nations. The competitive landscape is characterized by both large multinational corporations and regional players. The leading companies are constantly seeking to optimize production efficiency, diversify their product portfolio to cater to specific industry demands, and expand their geographic reach. Strategic mergers and acquisitions are prevalent, reflecting the consolidation trend within the industry. The global nature of the market necessitates navigating varying regulatory landscapes and economic conditions across different regions. Effective supply chain management, and technological advancements are crucial for companies to maintain competitiveness and profitability in the long term. Maintaining a sustainable approach to production, minimizing environmental impact, and adapting to shifting global economic conditions will be critical factors in determining success in this dynamic market.

The market size of the Present Steel Market is categorized based on Raw Materials (Iron Ore, Coal, Scrap Steel, Alloys, Lime) and Product Type (Flat Steel, Long Steel, Wire Rod, Steel Sheets, Steel Tubes) and End-Use Industry (Construction, Automotive, Aerospace, Machinery, Shipbuilding) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

Global Present Steel market size 2025 was XX Million. Present Steel Industry compound annual growth rate (CAGR) will be XX% from 2025 till 2033.

US iron and steel manufacturers, who are estimated to generate $108.4 billion in revenue for 2025, face a complex financial landscape after several years of fluctuating performance. While the industry has demonstrated a current period growth of 3.7% CAGR, the current year growth is estimated at 3.6%. Lower revenues in recent years were linked to depressed steel prices, caused by oversupply, sluggish demand in the construction and automotive sectors, and import competition. However, early 2025 has seen an uptick in prices driven partly by tariffs on imported steel, providing a glimmer of hope for improved earnings and profit, even as stricter EPA regulations on air quality and hazardous pollutants raise compliance costs. Characterized by a mix of large integrated producers and smaller specialized mills, the industry's structure is being reshaped by tariffs on foreign steel. While tariffs are boosting domestic manufacturers by creating a more favorable environment for domestic investment and job creation, they are also driving up costs for downstream industries such as automakers and construction firms. These tariffs, imposed to protect domestic producers, have contributed to higher US steel prices, even as manufacturers navigate increasingly stringent environmental regulations. The EPA's tougher air quality standards, targeting emissions from steelmaking processes, require costly investments in new equipment and process upgrades. As a result, the industry faces a complex landscape of trade tensions and varying profit impacts across different sectors. Looking ahead, the industry is expected to see growth stimulated by projected expansion in the domestic economy and large-scale federal infrastructure investments. Government initiatives, particularly those tied to infrastructure projects with “Buy America” provisions, are expected to bolster demand for domestically produced steel. The industry is projected to achieve a 1.7% CAGR through 2030, reaching $117.8 billion in revenue. Rising demand for green steel will also accelerate technology investments and transform production processes. Steelmakers will need to invest in expanding capacity, modernizing facilities and adopting advanced manufacturing technologies to meet anticipated demand and comply with evolving environmental standards.

Snapshot img

Stainless Steel Market Size 2023-2027

The stainless steel market size is forecasted to increase by 10,299.64 thousand tons at a CAGR of 3.38% between 2022 and 2027. Market growth relies on various factors, notably the increased consumption of high-strength stainless steel, propelled by its corrosion resistance and excellent mechanical properties. Additionally, economic expansion in China and India contributes significantly to market growth. As these nations continue to develop industrially and infrastructurally, the demand for stainless steel, particularly for construction and manufacturing applications, is expected to rise. This confluence of factors positions the market for substantial growth in the foreseeable future. Furthermore, the stainless steel market analysis report includes historic market data from 2017 to 2021. The stainless steel market forecast indicates robust expansion, driven by increasing demand for steel across various industries. The stainless steel market size growth is propelled by advancements in production technologies and the rise of sustainable manufacturing practices. Current stainless steel market trends show a surge in applications, particularly in construction and automotive sectors, underscoring its vital role in modern infrastructure.

What will be the Size of the Stainless Steel Market During the Forecast Period?

To learn more about this stainless steel market report, Download Report Sample

Stainless Steel Market Segmentation

The stainless steel market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in 'USD Million' for the period 2023 to 2027, as well as historical data from 2017 to 2021 for the following segments

End-user Outlook 

  Metal products
  Mechanical engineering
  Automobile and transportation
  Infrastructure and construction
  Electrical engineering





Product Outlook

  Flat
  Long





Region Outlook

  North America

    The US
    Canada


  Europe

    The UK
    Germany
    France
    Rest of Europe


  APAC

    China
    India


  Middle East and Africa

    Saudi Arabia
    South Africa
    Rest of the Middle East and Africa


  South America

    Argentina
    Brazil
    Chile

By End-user

The market share growth by the metal products segment will be significant during the forecast period. The use of stainless steel in metal products provides an aesthetic appeal, extensive textures, strength, functionality, corrosion resistance properties, and ease of cleaning properties such products, driving the growth of steel manufacturing. The demand for stainless steel for manufacturing metal products is high due to its ease of fabrication and mechanical properties.

Get a glance at the market contribution of various segments. Request PDF Sample

The metal products segment showed a gradual increase in the market share of 20,426.71 thousand t in 2017. Stainless steel is used in jewelry, belt buckles, clips, casings, watch straps and backs, cooker hoods, outdoor kitchen cabinets, worktops, drainers, sinks, and others. It is also used in kitchen vessels due to its hygiene properties, durability, and resilience to food discoloration and spoilage. The shift in consumer preference toward hygienic and easy-to-clean products is likely to increase the demand for stainless steel in metal products during the forecast period.

By Region

For more insights on the market share of various regions, Request PDF Sample now!

APAC is estimated to account for 76% of the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. APAC has some of the largest stainless steel-producing countries in the world, such as China, Japan, South Korea, and India. China was the largest producer and consumer of stainless steel in 2020. Manufacturers are shifting to the consumption of scrap steel and stainless steel as raw materials to reduce pollution as well as manufacturing costs. These factors will drive the growth of the market in APAC during the forecast period.

Stainless Steel Market Dynamics

The market plays a vital role across various sectors, including residential housing, building & construction, railways, and automotive & transportation. Its resistance to corrosion surpasses that of carbon steel, making it a preferred choice. Renowned companies like Jindal Steel and Daido Steel contribute to its production capacities. Stainless steel finds applications in diverse architectural elements such as railings, roofing, and staircases, offering both pliability and appealing aesthetic properties. Moreover, it serves industrial needs like heat exchangers and tubulars, alongside providing swimming pool shades, canopies, and atriums with durability and low maintenance cost during repair and re

The global steel market, currently valued at approximately $XX million (estimated based on available data and market trends), is projected to experience steady growth, exhibiting a compound annual growth rate (CAGR) of 2.17% from 2025 to 2033. Several key drivers fuel this expansion. Robust infrastructure development projects globally, particularly in emerging economies, necessitate substantial steel consumption. The burgeoning automotive and construction sectors, along with the increasing demand for durable goods, further stimulate market growth. Technological advancements in steel production, leading to enhanced efficiency and cost-effectiveness, contribute to market expansion. However, fluctuating raw material prices, particularly iron ore and coking coal, present a significant challenge. Moreover, stringent environmental regulations aimed at reducing carbon emissions pose constraints on the industry's growth trajectory. The market is segmented by end-user, with construction, machinery, transportation, and metal goods accounting for significant shares. Leading players like ArcelorMittal, POSCO, and Tata Steel are strategically focusing on diversification, technological innovation, and geographical expansion to maintain a competitive edge in this dynamic landscape. Competitive strategies involve mergers and acquisitions, joint ventures, and strategic partnerships to capture market share and optimize production processes. The industry faces risks related to geopolitical instability, trade wars, and economic downturns, each capable of influencing demand and prices. The regional distribution of the steel market is diverse. North America, Europe, and Asia-Pacific constitute the major market segments, driven by their strong industrial bases and infrastructure development activities. Within these regions, specific countries like China, India, the United States, and Japan are key consumers due to their robust manufacturing sectors and large-scale infrastructure projects. The market is characterized by the presence of both established multinational corporations and regional players. These companies compete on various factors including price, quality, technological capabilities, and geographic reach, leading to a competitive market dynamics. The forecast period (2025-2033) expects continued growth, although the rate may fluctuate based on macroeconomic conditions and geopolitical factors. Sustained growth hinges upon consistent infrastructure investments and advancements in steel production technologies that address environmental concerns.

In 2023, the global steel demand amounted to roughly **** billion metric tons, representing a slight decrease compared to the previous year. This figure was projected to decline by slightly in 2024 and increase in 2025. In 2025, the demand for finished steel products was forecast to reach just above **** billion metric tons. Steel plays a crucial role in numerous sectors of construction and engineering. China is the world's largest steel market China is by far the largest market for the production and consumption of steel. In China, steel is used primarily for vehicle manufacturing, construction materials, and consumer electronics. As China’s growing economy continues to demand more steel, the energy sector must work hard to keep smelters running. Much of the energy demand is met with coal combustion, contributing to high levels of carbon dioxide emissions. Producing and consuming so much steel means that the global steel industry is tied to China’s steel sector and wider economy. Steel as a material and commodity Steel products are available in many forms, including slabs, rebars, and rods; each category provides different qualities to their use. Steel consumption is either from steel scrap or virgin steel. China Baowu Steel Group Corp. was the largest steel manufacturing company as of March 2023, with sales revenues of ***** billion U.S. dollars. Luxembourg’s ArcelorMittal came second with over **** billion revenues.

China Steel Industry: Total Asset: Current Asset data was reported at 2,490,557.649 RMB mn in 2022. This records an increase from the previous number of 2,463,489.789 RMB mn for 2021. China Steel Industry: Total Asset: Current Asset data is updated yearly, averaging 1,091,733.670 RMB mn from Dec 1995 (Median) to 2022, with 28 observations. The data reached an all-time high of 2,490,557.649 RMB mn in 2022 and a record low of 26,224.930 RMB mn in 1999. China Steel Industry: Total Asset: Current Asset data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Metal and Steel Sector – Table CN.WAH: Steel Industry: Financial Data.

China Steel Industry: Total Liability: Current data was reported at 2,726,032.644 RMB mn in 2022. This records an increase from the previous number of 2,657,696.101 RMB mn for 2021. China Steel Industry: Total Liability: Current data is updated yearly, averaging 1,301,984.725 RMB mn from Dec 1995 (Median) to 2022, with 28 observations. The data reached an all-time high of 2,726,032.644 RMB mn in 2022 and a record low of 243,405.000 RMB mn in 1995. China Steel Industry: Total Liability: Current data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Metal and Steel Sector – Table CN.WAH: Steel Industry: Financial Data.

HRC Steel rose to 847.04 USD/T on August 1, 2025, up 0.84% from the previous day. Over the past month, HRC Steel's price has fallen 4.29%, but it is still 24.38% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. This dataset includes a chart with historical data for HRC Steel.

The global steel sections market, valued at $220.70 million in 2025, is projected to experience robust growth, driven by a Compound Annual Growth Rate (CAGR) of 6.59% from 2025 to 2033. This expansion is fueled by several key factors. The burgeoning construction sector, particularly in rapidly developing economies across Asia-Pacific and Latin America, significantly boosts demand for heavy and light structural steel, rebar, and other steel sections. Furthermore, the growth of infrastructure projects, including bridges, skyscrapers, and transportation networks, contributes significantly to market expansion. The automotive and aerospace industries also represent important end-use segments, demanding high-quality steel sections for lightweighting and performance enhancement. Increased investments in renewable energy infrastructure, such as wind turbines and solar farms, further underpin market growth. While rising raw material prices and fluctuating steel production costs present challenges, innovation in steel manufacturing, focusing on improved strength, durability, and sustainability, is expected to mitigate these constraints. The market is segmented by product type (heavy structural steel, light structural steel, rebar) and end-user industry (residential, manufacturing, aerospace & automotive, power & utilities, construction, oil & gas, other). Major players like Tata Steel, ArcelorMittal, and POSCO are actively shaping market dynamics through strategic partnerships, technological advancements, and geographic expansion. The Asia-Pacific region, particularly China and India, currently dominates the global steel sections market, owing to their large-scale construction activities and robust industrial growth. However, North America and Europe are expected to witness considerable growth throughout the forecast period driven by infrastructure development initiatives and government investments in sustainable construction practices. Competition among established players is intense, characterized by price competitiveness and ongoing product innovation to meet the diverse needs of various end-use sectors. The market's future trajectory will be influenced by global economic conditions, government regulations on construction and environmental sustainability, and the adoption of advanced manufacturing technologies. The forecast period (2025-2033) presents significant opportunities for market participants focusing on product diversification, technological advancement, and strategic market expansion into high-growth regions. This comprehensive report provides an in-depth analysis of the global steel sections market, covering the period from 2019 to 2033. With a base year of 2025 and an estimated year of 2025, the report forecasts market trends and growth until 2033, leveraging historical data from 2019-2024. This analysis incorporates key market segments, including product types (heavy structural steel, light structural steel, rebar) and end-user industries (residential, manufacturing, aerospace & automotive, power & utilities, construction, oil & gas, others). The report examines market dynamics, competitive landscapes, and future growth opportunities, making it an indispensable resource for businesses, investors, and stakeholders in the steel industry. Recent developments include: April 2023: Tata Steel signed a business cooperation agreement with A&B Global Mining Pvt. Ltd (ABGM) to develop new business opportunities. It aims to focus on delivering mine technical services in areas like exploration, resource evaluation, mine planning and scheduling, digitalization, owner engineering, and project management. It also aims to provide clean/hybrid energy solutions while conducting pre-feasibility and bankable feasibility studies, investment thesis, and due diligence. ABGM also plans to collaborate with Tata Steel to deliver competitive integrated business solutions to the worldwide mining industry.January 2023: Vallourec signed a long-term agreement with Petrobras for OCTG (Oil Country Tubular Goods) solutions. The three-year agreement covers the supply of OCTG Premium products, associated accessories, and specialized physical and digital services, representing a volume above 110 kiloton of products and accessories.. Notable trends are: By Region, Asia-Pacific is Expected to Lead the Market with More Opportunities.

The global crude steel and iron market exhibits robust growth potential, driven by the expanding construction and infrastructure sectors, particularly in developing economies. The market, valued at approximately $1.2 trillion in 2025, is projected to experience a Compound Annual Growth Rate (CAGR) of 4.5% from 2025 to 2033, reaching an estimated market size of $1.8 trillion by 2033. This growth is fueled by increasing urbanization, industrialization, and the rising demand for durable goods such as automobiles and appliances. Key trends include the adoption of advanced steelmaking technologies like electric arc furnaces, emphasizing sustainability and reducing carbon emissions. Furthermore, government initiatives promoting infrastructure development in various regions contribute significantly to market expansion. However, fluctuating raw material prices, particularly iron ore, and stringent environmental regulations pose challenges to market growth. The market is segmented by production process (oxygen, electric, others) and application (building & infrastructure, mechanical equipment, automotive, etc.), offering diverse investment opportunities. Competition is intense among major players such as ArcelorMittal, China Baowu, Nippon Steel, and others, who are constantly striving for technological advancements and market share expansion. The geographical distribution of the market shows significant regional variations. Asia Pacific, especially China and India, dominates the market due to their rapid industrialization and infrastructure development. North America and Europe also hold substantial market shares, driven by continuous upgrades in infrastructure and the growing automotive sector. However, the market faces restraints including the volatility in global economic conditions, geopolitical uncertainties impacting raw material supply chains, and the increasing pressure to reduce carbon emissions in the steel industry. The forecast period sees a continued focus on technological innovation to improve efficiency, reduce environmental impact, and meet the rising demand for high-quality steel products in various applications. This dynamic interplay of growth drivers, challenges, and technological advancements shapes the evolving landscape of the crude steel and iron market. This comprehensive report provides an in-depth analysis of the global crude steel and iron market, examining production trends, key players, regional dominance, and future growth prospects. We delve into the intricacies of production methods, end-use applications, and the impact of regulatory changes and technological advancements. The report utilizes data in millions of tons to present a clear and concise picture of this vital industry.

Steel Production in the United States decreased to 6900 Thousand Tonnes in June from 7000 Thousand Tonnes in May of 2025. This dataset has Steel Production values for United States.

The global long steel market, valued at $513.22 million in 2025, is projected to experience a compound annual growth rate (CAGR) of -2.6% from 2025 to 2033. This negative growth reflects several factors impacting the industry. Firstly, global economic fluctuations and reduced infrastructure spending in certain regions contribute to decreased demand. Secondly, increased production costs, driven by rising energy prices and raw material shortages, put pressure on profitability and potentially limit expansion. Furthermore, stricter environmental regulations concerning carbon emissions are leading to increased operational costs for steel producers and are prompting a shift towards more sustainable production methods. This transition, while necessary for long-term market health, presents short-term challenges for established players. Despite these headwinds, certain market segments, such as those catering to specific construction projects or specialized applications, might demonstrate more resilience. Technological advancements in steel manufacturing, focusing on enhanced efficiency and reduced environmental impact, are key factors that will influence the market trajectory in the coming years. The competitive landscape is dominated by major global players such as China Baowu Group, ArcelorMittal, and Nippon Steel Corporation, indicating a high degree of consolidation in the industry. These companies’ strategies regarding innovation, cost optimization, and geographic diversification will be crucial in navigating the current market dynamics. The competitive intensity within the long steel market necessitates strategic adjustments from major players. Diversification into value-added products and exploration of niche markets can offer opportunities for growth. Furthermore, collaborations and mergers could help companies achieve economies of scale and enhance their competitiveness. The industry's focus on sustainable practices and technological innovation will be crucial for its long-term success. Adapting to changing regulations and consumer preferences, while managing fluctuating raw material prices, will be critical factors determining the success of individual companies within this dynamic market landscape. Geographic expansion into regions with robust infrastructure development plans could also present growth prospects. The projected negative CAGR suggests a period of consolidation and adaptation, with potential for a recovery in the latter half of the forecast period contingent on global economic conditions and technological advancements.

In the period of consideration, steel production in the United States fluctuated considerably. In particular, the production level decreased from **** million in 2019 to **** million metric tons in 2020 due to the narrowing down effects of the coronavirus pandemic on the American metal industry. The following year, the manufacturing level rose to **** million metric tons before declining to ** million in 2022. The U.S. steel market Since 2009, annual iron and steel manufacturing in the United States has increased from more than ** billion U.S. dollars in revenue to *** billion U.S. dollars in 2014. Still, the U.S. is among the Top 5 crude steel-producing countries, with a production level between ** and ** million metric tons from 2020 to 2022. One of the largest steel producers in the United States is the North-Carolina-based Nucor Corporation. In the 2022 financial year, the steel producer recorded some **** billion in revenue. In a global comparison of crude steel producers, Nucor was ranked sixteenth in 2022, producing around **** million metric tons of crude steel. Global steel production Over the last several years, the global production of crude steel has experienced consistent growth. Since 2003, annual crude steel production increased from ****** million metric tons to roughly *** billion metric tons in 2022, despite a dip in global demand in 2020 due to the coronavirus pandemic. China was the leading crude steel producer in 2022, holding more than half of the global market compared to other countries and regions. In particular, China Baowu Group, the world's larger steel maker, produced ***** million metric tons in 2022.

The global stainless steel market, exhibiting a Compound Annual Growth Rate (CAGR) of 4.69% from 2019 to 2024, is poised for continued expansion. Driven by robust demand from the construction, automotive, and consumer goods sectors, the market is projected to reach significant value in the coming years. Factors such as increasing urbanization, rising disposable incomes in developing economies, and the growing preference for durable and corrosion-resistant materials are key growth drivers. Technological advancements in stainless steel production, focusing on enhanced properties and sustainable manufacturing practices, further contribute to market expansion. However, fluctuating raw material prices (primarily nickel and chromium) and environmental concerns related to steel production present challenges to consistent growth. The market is segmented by various grades of stainless steel (e.g., austenitic, ferritic, martensitic), applications, and geographic regions. Major players, including ArcelorMittal, Nippon Steel Corporation, and POSCO, dominate the market landscape through their extensive production capabilities and global distribution networks. Competition is intense, with companies focusing on product innovation, strategic partnerships, and acquisitions to maintain market share and profitability. The forecast period of 2025-2033 anticipates continued market growth, albeit at a potentially moderated pace due to the interplay of favorable market forces and potential economic headwinds. Specific regional market dynamics will influence the pace of expansion in different geographical areas. Considering a base year market size of $XX million (this value needs to be provided to accurately project future values), and a 4.69% CAGR, the market demonstrates significant growth potential. Despite potential restraints like fluctuating raw material prices, the underlying drivers suggest the market will surpass previous growth rates within the forecast period (2025-2033). The strategic focus by market leaders on technological advancements and sustainable practices suggests a continued robust outlook, while challenges related to economic cycles and environmental regulations will impact the market's trajectory. A deeper analysis of individual regional markets and specific application segments would provide a more granular understanding of the market dynamics. Recent developments include: January 2023: North American Stainless (NAS), the largest fully-integrated stainless steel producer in the United States, confirmed the USD 244 million expansion of its Ghent, Kentucky facility in Carroll County. This expansion will increase NAS' total capacity by 200,000 tons annually, representing a 20% growth to meet the rising demand for top-of-the-line stainless products from customers., December 2022: Jindal Stainless received regulatory approval for its merger with Jindal Stainless (Hisar) from the National Company Law Tribunal (NCLT).. Key drivers for this market are: Growing Demand from Construction Industry, Increasing Demand from Automotive Industry; Other Drivers. Potential restraints include: Growing Demand from Construction Industry, Increasing Demand from Automotive Industry; Other Drivers. Notable trends are: Increasing Usage in the Construction Industry.

The Galvanized Steel Market size was valued at USD 98.80 USD Billion in 2023 and is projected to reach USD 147.58 USD Billion by 2032, exhibiting a CAGR of 5.9 % during the forecast period. Zinc-coated steel called galvanized steel is popular for the production of buildings, automobiles, and all kinds of home appliances where durability and being able to resist corrosion are important. Kinds include plated-in dips and electroless that provide variety. Technology innovations enable higher production rates with less waste – which means the overall environmental impact is reduced. It is an extended-use technique that increases the life span of the product, reduces maintenance and improves the structural integrity. One of the benefits herein is the high level of durability and simplicity in maintenance as well as the possibility to recycle it. This makes the material a first choice in most applications across many industries. Recent developments include: December 2023: Nippon Steel entered into an agreement to acquire U. S. Steel Corporation. The company will acquire U. S. Steel in an all-cash transaction for USD 55.00 per share. This acquisition is expected to close in the second or third quarter of 2024., October 2022: ThyssenKrupp Steel introduced a new hot-dip galvanizing line at the Dortmund location, namely FBA 10. With this introduction, the company now has two modern hot-dip galvanizing lines and reached a total production capacity of nearly 1 million metric tons per year., September 2022: Nucor Corporation has announced it is ready to construct two new flat-rolled galvanizing lines at Nucor Steel Berkeley in South Carolina and another one in western U.S. which will commence its operations in mid-2025. The company’s expansion strategy helps it expand its capabilities and grow its participation in the consumer durables and automotive markets., August 2022: Ansteel Group acquired a Benxi Steel Company. This acquisition helps Ansteel Group to expand their steel capacity to 63 mn t/year. With this acquisition, Benxi Steel Company became a second-level subsidiary of Ansteel Group. Such acquisition creates an opportunity to increase the company's share in the market., February 2022: Nucor Corporation acquired California Steel Industries, Inc. (CSI) for a cash purchase price of USD 400 million. The acquired company operates to offer cold rolled, hot rolled, oiled and pickled, galvanized and ERW pipe. Such strategic developments help Nucor Corporation to make a strong presence in the Western region.. Key drivers for this market are: Growing Product Demand from Various End-use Industries to Drive Market Growth. Potential restraints include: High Price Volatility of Raw Types to Restrain Market Growth. Notable trends are: Increasing Trend toward the Use of Electro-Galvanizing Steel in Manufacturing Electric Parts to Present Market Growth.